Buenos Aires Office Market Trends

Buenos Aires Office Market Trends
Fourth Quarter 2011
Análisis general.
En el año 2011 el inventario de edificios A y A+ superó la
superficie de 1.700.000 m², destacándose el crecimiento de los
edificios “sustentables”, especialmente en la zona norte del
gran Buenos Aires (GBA). La absorción neta acumulada fue
mayor a la registrada el año anterior y se mantiene por arriba
del promedio de la última década (55.000 m²). La vacancia, por
su parte, disminuyó respecto a 2010 manteniendo valores
cercanos al 7%.
General analysis.
During 2011, the inventory of offices categories A+ and A
increased to 1.7 MM square meters which most highlighted fact
was the raise of “green buildings”, specially on the north
corridor of Buenos Aires (GBA). The cumulative net absorption
was bigger than the registered a year before and it keeps over
the average of the last decade (55.000 sqm). Meanwhile
vacancy decreased in comparison to 2010, keeping values
close to 7%.
Tasa de Vacancia / Vacancy Rate
Evolución del Inventario / Evolution of Inventory
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Inventario A+ y A / Inventory
Absorción Neta A+ y A / Absorption.
Tasa de Vacancia A+ y A / Vacancy
INVENTARIO (mil/m²) / Inventory (thousand/sqm)
2%
2
4%
3
15%
26
7%
7
10%
9
SUP. DISP. (mil/m²) / Available Area Lease (thousand/sqm)
2Q 2011
4Q 2011
Inventario / Inventory
1,681,700
1,710,500
Vacancia / Vacancy
164,800
110,000
Macrocentro
Absorción / Absorption
32,000
17,500
8%
9%
6%
Vacancia Total / Total Vacancy
Microcentro
11%
N° aproximados / Approximate
Norte CABA
7%
Norte GBA
24%
Macro Sur
Plaza Roma
7%
Precios de alquiler oficinas A+ y A / Class A+ and A buildings lease price
40
30
20
10
35
28
25
37
35
26
26
36
29
28
26
22
23
21
24
29
23
30
22
Plaza San Martín
3%
37
27
2%
Macro Norte
30
3%
Catalinas
Puerto Madero
10%
25%
23
13
10
7
10
8
12
7
0
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Promedio A+ (USD/m²) / Average: A+ (USD/sqm)
Promedio A (USD/m²) / Average: A (USD/sqm)
Proyecto Al Río / Al Río Project.
Buenos Aires Office Market Trends
0%
VACANCIA / Vacancy
Oferta Oficinas / Office Supply
A+ / A
5%
MACROCENTRO
-10%
2%
3
27
11
64
NORTE
0
PUERTO
-5%
27
7%
7
101
CAP.FED.
0%
9%
6%
4%
11
100
MACRO NORTE
500,000
7%
20%
107
PLAZA ROMA
5%
25%
162
MACRO SUR
10%
194
MARTIN
1,000,000
30%
24%
PLAZA SAN
15%
264
NORTE
20%
PROV.BS.AS.
1,500,000
35%
290
CATALINAS
25%
40%
404
MICROCENTRO
30%
MADERO
2,000,000
450
400
350
300
250
200
150
100
50
0
4q11
Buenos Aires Office Market Trends
Fourth Quarter 2011
Submercados.
La superficie disponible disminuyó 25% respecto a 2010, siendo
Puerto Madero y Zona Norte (GBA) los lugares de mayor oferta.
Igualmente, hay que tener en cuenta que son los submercados
donde más se construye. Los valores de alquiler finalizaron el
2011 con una leve baja respecto a mitad de año, salvo en Zona
Norte de Capital y en Plaza Roma (precios estables).
Sub-Markets.
The available area decreased 25% compared to 2010, where the
major part is located in Puerto Madero and the North Corridor
(GBA), although these are the submarkets with more
construction activity. Rent values ended 2011 with a slight
decrease compared to last July, except North part of Capital
Federal and Plaza Roma (values did not change).
MARKET OVERVIEW. CLASS A+ AND A BUILDINGS - Q4 2011.
AVERAGE ASKING LEASE PRICE
SUB MARKET
AVAILABLE LEASE AREA (sqm)
VACANCY LEASE RATE (%)
ZONA
SUPERFICIE DISP. EN ALQ. (m²)
TASA DE VACANCIA EN ALQ. (%)
PRECIO PROMEDIO DE RENTA (USD/m²)
11,500
2,800
7,500
9,100
11,700
7,200
27,500
1,700
3,800
27,400
6%
4%
7%
24%
4%
7%
9%
2%
2%
7%
30
28
19
24
20
23
20
31
23
28
110,200
7%
CATALINAS
MACRO CENTRO NORTE
MACRO CENTRO SUR
MACROCENTRO
MICROCENTRO
NORTE CABA
NORTE GBA
PLAZA ROMA
PLAZA SAN MARTIN
PUERTO MADERO
TOTAL
(USD/sqm)
25
N° aproximados / Approximate
Buenos Aires - Submercados / Submarkets
Buenos Aires - Submercados / Submarkets
Buenos Aires Office Market Trends
4q11
Buenos Aires Office Market Trends
Fourth Quarter 2011
Certificaciones LEED.
LEED Certifications.
Según la United States Green Building Council (USGBC), en la
Argentina hay 44 proyectos registrados (públicos) y 4 proyectos
certificados (públicos). Las propiedades que tienen
certificaciones LEED, en general, tienen destinos comerciales
(oficinas) y están ubicadas en Puerto Madero, Retiro y la Zona
Norte (GBA).
According to the U.S. Green Building Council´s (USGBC) public
project directory, Argentina has 44 registered projects and 5
certified projects. In general, the properties that have achieved
LEED certification are commercial spaces (offices) and are
located in the Puerto Madero, Retiro and Zona Norte area of the
Buenos Aires Province
Registros y Certificaciones de algunos países de Latinoamérica / Registered and Certified projects in some countries of South America.
LATAM
Rating System
CORE & SHELL
SCHOOLS
NEW CONSTRUCTION
REGISTRADOS
COMMERCIAL INTERIORS
EXISTING BUILDING OPERATION & MAINTENANCE
NEW CONSTRUCTION RETAIL
TOTAL REGISTRADOS
CORE & SHELL
SCHOOLS
NEW CONSTRUCTION
CERTIFICADOS
COMMERCIAL INTERIORS
EXISTING BUILDING OPERATION & MAINTENANCE
NEW CONSTRUCTION Retail
TOTAL CERTIFICADOS
Brasil
116
1
88
6
18
0
229
12
0
13
9
3
0
37
Colombia
16
2
28
6
3
2
57
0
0
4
4
1
0
9
Mexico
56
4
76
13
14
1
164
5
0
9
2
4
0
20
Uruguay
3
0
4
0
0
0
7
0
0
0
0
0
0
0
Costa Rica
3
0
13
5
0
0
21
0
0
1
3
0
0
4
Peru
6
0
3
5
0
2
16
1
0
1
1
0
1
4
Argentina
24
1
16
1
2
0
44
1
0
1
1
1
0
4
Fuente / Source: USGBC LEED Proyects Directory.
NOVEDADES / News.
Últimos metros disponibles en Puerto León.
Last available space in Puerto León.
Ubicado dentro de Puerto Madero, forma parte de los edificios
A+ que albergan las principales empresas nacionales y
multinacionales que operan en nuestro país, lo cual realza la
moderna imagen urbana del lugar. En esta ocasión se ofrece
en alquiler un sector de la planta baja del edificio, de 700 m²
aprox. Se entrega con piso técnico, luminarias, cielo raso y
aire acondicionado.
Located in Puerto Madero, Puerto Leon belongs to the A+ building group, which
hosts to the major multinational and local companies. This fact enhances the
modern image of the area. In this occasion, it is offered to rent a section of the
ground floor of 700 sqm approx. It is delivered with technical floor, lighting,
ceiling and air conditioning.
About U.S. Equities Realty.
Tradicional edificio en San Telmo / Traditional Building in San Temo.
Contact Information
Juan Pablo Baca
Researcher
[email protected]
“Boutique Office”, ubicado en Av. Belgrano esq. Balcarce (área
de preservación histórica), está caracterizado por un diseño y
arquitectura de interés cultural, totalmente reciclado. Consta
de subsuelo, planta baja y 5 pisos, espacios para amenities,
excelente iluminación natural, ventilación y espacios de
esparcimiento / “Boutique Office”, located in Belgrano Avenue,
intersection with Balcarse St. (historic preservation area), was completely
recycled and it is characterized by arquitecture & cultural interest design. / It
consists of basement, ground floor and 5 floors, space for amenities, excellent
natural lighting, ventilation and recreational spaces.
U.S. Equities Realty is a leading full-service commercial real estate firm
headquartered in Chicago. The company serves as a strategic real estate
advisor to clients throughout the United State and Latin America,
providing development, program management, build to suit and
construction oversight services; asset managment and leasing; tenant
representation, consulting and advisory services; and financial and
investment services.
U.S. Equities Realty
Av. L. N.Alem 690 piso 14° - C1001AAO – Buenos Aires, Argentina.
T (54 11) 5129 4880 www.usequities.com
All data has been obtained from sources believed reliable but is subject to revision
as data is updated. This information is designed exclusively for U.S. Equities
Realty, its clients, and cannot be reproduced without prior written permission from
U.S. Equities Realty.
Toda la información fue obtenida de fuentes confiables pero está sujeta a revisión
ya que la misma es actualizada. Esta información está proporcionada para U.S.
Equities Realty y sus clientes. No puede ser reproducida sin previo permiso de
U.S. Equities Realty.
Buenos Aires Office Market Trends
4q11